Drawing Bar Charts in MetaTrader 4

The third option on the charts menu in MetaTrader 4 platform is the 'Bar Chart' button. This button is used to choose the drawing method of cfd instrument movement as cfd price bars.

To trade on cfd charts a trader may prefer to use the Bar Charts. The above menu button shows how a trader can select this option on the MT4 software.

These are drawn using color programming:

• Red bar - CFD Price went down
• Blue bar - CFD Price market went up

These bars also have horizontal line to the left & to the right: these are used to show opening (left horizontal dash) and the closing (right horizontal dash).

highest point shows the high of the cfd price

Lowest point shows the low of the cfd price

These 4 points Open, High, Close & Low are Referred to as OHCL, abbreviation of first letter for these 4 areas, these Four O H C L zones will be illustrated on each & every single price bar.

These charts are not very popular among CFD traders as they are not very appealing in terms of technical analysis & traders tend to favor other types.